AUD/USD continues to fall

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 34% 33% 2.94%
Shorts 66% 67% -1.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Contrary to expectations, the Aussie managed to push through a significant resistance cluster formed by the weekly and monthly R1s and the 61.8% Fibonacci retracement up to the 0.8080 mark.  

Subsequently, FOMC's comments about a possible rate hike by the end of 2017 sparked a buying spree of the US Dollar, thus closing the hour with a 71-pip plunge. This decline halted right at the 200-hour SMA and the upper channel boundary, but the given area, likewise reinforced by the 55– and 100-hour SMAs, failed to support the rate. 

In general, the 17-hour plunge has sent technical indicators to historic lows. Thus, the rate should try to recover some losses. The scope of this recovery is yet unknown, but it is possible that the Aussie reaches the aforementioned SMAs, the weekly PP and the 38.2% Fibo circa 0.8010.

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